NQ Exploration Inc.
TSX VENTURE : NQE

NQ Exploration Inc.

January 30, 2012 11:37 ET

NQ Exploration Inc.: Andre Goguen Appointed as a Director of the Company

LAVAL, QUÉBEC--(Marketwire - Jan. 30, 2012) - NQ Exploration Inc. ("NQ") (TSX VENTURE:NQE) is pleased to announce the appointment of André Goguen as a director of the Company. Mr. Goguen will replace Mr. Champoux as a member of the Audit Committee.

Mr. Goguen is the president and founder of Action Custom Services Inc., an authorised Canadian customs broker founded in 1992. He is also the president of A.G.O. Transportation Inc., a freight shipping company providing worldwide logistics services that he founded in 1993. He is also the president and founder of Action Worlwide Inc., a certified US customs broker. Mr. Goguen has a business management certificate from HEC Montreal. He has also been a director of Vigil Locating Systems, an NEX-listed company, since 2002. He has also been the corporate secretary, treasurer and promoter for Quinto Real Capital Corporation since January 2010. Since February 2010, he has been a director of Kilkenny Capital Corporation, a venture capital company listed on the TSX Venture Exchange since September 2010. From October 1998 until April 2004, Mr. Goguen was a director of FTM Investment Corporation, a venture capital company listed on the TSX Venture Exchange that has since changed its name to Cagim Real Estate Corporation. He was also the president of Laurent Venture Capital Corporation, which closed its qualifying transaction in 2009. He was a director of the resulting issuer, Carbon2Green, listed on the TSX Venture Exchange, until the company became TomaGold Corporation in December 2011.

As a director, Mr. Goguen will receive 250,000 options. Each option entitles its holder to purchase one share of the Company at a price of $0.10 per share for five years, with the shares subject to a four-month hold period.

The Company also regrets to announce the departure of director Alain Champoux. Mr. Grondin wishes to thank Mr. Champoux for the work he did and wishes him every success in his future projects.

The above-mentioned transactions are subject to the approval of the TSX Venture Exchange.

The Company is also announcing the issuance of 193,150 common shares at $0.06 per share on December 29, 2011, in settlement of interest in the amount of $11,589.04 accrued up until December 19, 2011, on the debenture held by the Société de développement de la Baie-James.

ABOUT NQ EXPLORATION INC.

NQ Exploration Inc. is a mining exploration company with a solid portfolio of 11 mining properties in the James Bay and Abitibi regions of Quebec. NQ Exploration Inc. is betting on Quebec's excellent mineral potential and favourable investment climate to produce new world-class gold and base metal deposits.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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